5 min read
Opinions expressed by Contractor the contributors are theirs.
I don’t like to be alarmist, but I still believe that we are living in a very unstable economic time. There are major unknowns that could push the economy south quickly and in a major way, such as:
- The price of Apple shares. If it overflows, it could be like the bursting of a second Internet bubble. (Although, in all disclosure, I have invested recently.)
- Who knows what’s really going on in China? The government has taken important steps to support many elements of its economy.
- The euro. I don’t think we saw the last of the European leaders in panic mode.
- The end of quantitative easing. When the Fed gets off the gas pedal, what will happen? It is completely unknown territory.
I could probably ride a few more goblins that would scare us, but that’s enough for now. Addicted entrepreneurs and startups won’t let these little threats stop them, but I think they will take a closer look at the types of businesses that tend to be more resistant to the recession.
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If this is you, here is a list of industries and businesses that you will want to consider.
Most businesses built around beer, wine and spirits are doing well during a recession. The more expensive drinks don’t sell as well, but the mid-range and lower-cost liquors resist bends like a champion. There is an important principle here: if something is really a habit – like wine with a dinner or an evening cocktail – people never quit regardless of economic circumstances. They simply adapt. Consider a liquor store or wholesale distribution.
Although there are barriers to the alcohol trade, cosmetics is a much easier industry to integrate. I guess when people cry in their milk all day, they need good cosmetics to get them in a good mood at night. But whatever the motivation, cosmetics withstand recessions fairly well. There are many ways to do business here, from becoming a Mary Kay representative to selling on the Internet.
Film attendance is experiencing a very good economic slowdown, although the entire industry has recently experienced a recession. Large chains have control over new releases. So why not consider a local independent theater which is part of the trend to combine movies and meals? Could be a big hit in your hometown!
Again, many segments of this industry have virtually insurmountable barriers to entry. But with a huge aging baby boomer population, there will be opportunities in home care services. I also think that a peer-to-peer nursing service might be possible.
Specialized food stores.
Small shops specializing in organic products should do well. It could be a scaled down version of Whole Foods or you could create a line of products that you sell yourself or that you sell in other outlets, and that ties in with the following idea.
In the same way that we will not give up alcohol during a recession, we refuse to put down our sweets. You may remember that the craze for cupcakes was roughly parallel to the last recession. This industry has grown too large, but there are many independent bakers who are still doing well. Give your dessert an organic, gluten-free or vegan touch and maybe you can cover two bases at once – specialty food and something sweet!
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Rather than buying new ones, we repair our cars and major appliances during a recession. Check your local market to see how covered it is. If there is an overabundance of HVAC repair shops, for example, consider moving to a fast-growing community to start your business.
In the same way that we keep our old appliances and cars lame during a recession, we tend to hit thrift stores in search of bargains. Spend some time looking at older episodes of “Storage Wars” to see how you can build inventory for your thrift store.
Even in the worst recession, two things are certain: death and taxes. Again, with the aging baby boomer population, this is a growing industry, no matter what is going on with the economy.
Yes. You can do the same with what I said just above. For some reason, accountants and tax specialists are going through tough times better than most of us. I guess people are more concerned with keeping every penny they have earned and at the same time, the IRS is focusing on collecting every penny possible – which creates the perfect conditions to stimulate demand for professionals. tax.
And hey, even if we manage to dodge all the dark economic omens I mentioned above, these are still solid start-up ideas.
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